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ESMA approved the registration of Moody’s Investors Service EMEA Limited, based in the UK, as a credit rating agency (CRA) under Article 16 of the CRA Regulation. The registration takes effect from 24th November 2014.
This is the seventh entity in the Moody’s Investors Service group to be registered as an EU Registered Credit Rating Agency.
A registered CRA must continue to comply, on an ongoing basis, with the regulatory requirements set out under the CRA Regulation.
There are now 23 registered and 3 certified CRAs in the EU. Amongst the 23 registered CRAs, three operate under a group structure, totalling 17 legal entities in the EU, which means that the total number of CRA entities registered in the EU is now 37.
ESMA’s supervisory mandate applies to all credit rating agencies established in the EU which issue credit ratings that are disclosed publicly or distributed by subscription. The exercise of that supervision includes the possibility to impose sanctions, including penalties, in case of breaches of the requirements established by the Regulation. Those requirements include the obligation to be registered by ESMA before engaging in rating activities.
Full Public Statement